> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/emir/articles/58.md).

# Article 58 — Examination of the application

*In force · Consolidated version of 17 January 2025 · Checked against EUR-Lex on 11 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02012R0648-20250117)

1. ESMA shall, within 40 working days from the notification referred to in the third subparagraph of [Article 56(2)](/emir/articles/56.md), examine the application for registration based on the compliance of the trade repository with [Articles 78](/emir/articles/78.md) to 81 and shall adopt a fully reasoned registration decision or decision refusing registration.
2. A decision issued by ESMA pursuant to paragraph 1 shall take effect on the fifth working day following its adoption.

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[Title VI — Registration and supervision of trade repositories](/emir/titles/vi.md) · [← Article 57](/emir/articles/57.md) · [Article 59 →](/emir/articles/59.md)